The Luck Companies were the most leading companies which were ranked top 15 best in the world. They had good management which was, and the CEO was the father. It kept going down to the son and the trend continued. But before taking office as the president of the companies the son was to start from down and climb all the position in the management structure; to ensure that the employees earn the utmost respect he needed to avoid the appointment menace of one not knowing his significant roles. Now the problem of the case study raised from the management of the company and how it will be changed from the hereditary way to others be given the opportunity to manage the company effectively. Those who had the potential did not have that chance to achieve the companies because it was a family deal which was being inherited from father to son and the trend continued. Under the leadership of Charlie Luck, he managed to rearrange the management structure which enabled him to be named as the best CEO of his tenure in the office through the company was a family affair. Will the luck company continue to dominate the market of stone crush forever?
Luck Companies had its strengths which made them be the best among the rest. The following were the strengths which the Luck Companies had in place that enabled them to be the leading in the stone crush sector; strong leadership which ensured that all the tasks are performed accordingly and all the simple rules and regulations are followed to the latter. Adequate funds that enabled it to run all its operations effectively as planned by the team. Teamwork was highly valued as all the workers worked as one team the thing which allows them to have good working relations. A healthy working environment which gave them the motivation to work harder than expected and also the salary was friendly which made them loyal to their work during their stay in the company.
Despite being ranked the best companies in the world, they also had their internal weaknesses which always kept them at the same point. It was family managed the business, and this never gave room for new inventions. The Luck Companies was not exposed to many parts as the family did not have the interest of expanding it anymore from its current place. It also lacked expertise from other engineers as the opportunity was given to family members. They also never gave offers to their esteemed clients who were each time doing business with them.
The companies also had various opportunities from people who are looking for job vacancies in the company. They employed many people in different fields who worked for the company and ensured they achieved what they wanted at the end of the day. They had to engage managers and directors who made sure they had completed their goals in time. Against that, they also faced some threats which kept some on toes and others threatened the collapse of the company. Some workers gave threats of boycotting work wherever there was a small misunderstanding — some issued warning of going to court if their contracts were terminated prematurely.
The Luck Companies had strategies which helped it stay in the market for long. For instance, it had set aside some goals to achieve at the end of the day; hence it ensured that all the workers were on toes towards making it. First, they provided had a good salary to their employees and excellent working environment. They promoted the hardworking employee of the year by appointing them to higher ranks in the job. The company also other processing plants as the alternatives which make it have pride in the market. Considering all the factors present the company got many strategies from the executives who give it new dimensions in the stone crush sector thus making it prosper.
Having all that is needed in place does not guarantee free entry into permanent enjoyment of business instead it awakens the mind of having alternatives which will help the company to maintain its status and have a healthy economy. The Luck Company under the care of Charlie Jr had the three options to make sure they take up the market and be in the field for a long time possible. First, investing in sports of basketball. This was a good idea as an alternative, but it had its pros and cons at the same time. It was to be the best to keep body fitness and earn a lot of money to the company if indeed it was to switch to it. But, it was not liked by all the people, and it was not being played daily that the income won’t be compared to that of the stone crush sector.
The second alternative is the building of bridges with other companies to join the Luck Companies and prosper together. They had planned to merge the willing partners into the system. They will combine and become active in the market and also they will realize much profits than before after doing this merge. On the other side, they will witness a downfall which will result from the differences from the merged companies and also the profits will be minimal as it will be shared among many companies who are working toward achieving a common agenda.
Lastly, they will opt to source for a fund to boost the sinking Luck Company which will be by then be bankrupt. This will enhance its strength to restore its gone glory and retain its vanishing clients by offering g rebranded services in the market. Again this will make the company be at that point it will be auctioned if it fails to raise the loaned funds. And it will be difficult to pay the employees if the funds are lent to revive the company from its fading glory in the stone crust industry.
All these alternatives will work or not depending on the measures that are put in place to make them work according to the set objectives. The company will make sure all the people who are working under it are well informed. The CEO will recommend for the implantation of the set targets to enable them to avoid being in the position of using the above alternatives which signal the end of the mightier company in the stone crush industry.
Implementation of the plan will take place after all the designed programs are put in place and ensured they run effectively in the stone crush sector. The Luck Companies are bound implementing the coded plans to avoid being in that point of being auctioned nor being declared bankruptcy due to its poor leadership which is not well informed about the trends in the market.
The organization is well arranged that means the company will be at the point of losing its glory thus making it be scared in the market. It should have consisted of competent agents who are self-driven and working towards achieving the goals of the company as one team who have a common agenda.
Do you need high quality Custom Essay Writing Services?